Auction Frequently Asked Questions Thread

[bugface711]

Frequently Asked Questions for the Auction Forum

First, we do ask that you review the rules for the Auction forum.
Rules that apply to all of the trade forums are found HERE. Additional rules that apply to auctions forum only are found HERE.

Please take the time to read this FAQ before sending a PM to the moderators. They are always willing to help, but most everything is covered here.

* some answers are found right next to the questions below, others are linked to the answer in a post further down in the thread

Q. Do Hotcouponworld auctions run like the big internet auction site?
A. No, they have an automated ending system and one form of payment. We have a lot of variables which keeps it fun. But, it also means that some questions come up, which is why we started this FAQ.

Q. Why can't I post an auction or bid on an auction?

Q. What are the different types of auctions?

Q. How do I post my item(s) for auction into the auction forum so members can bid on them?
A. We have forms found HERE that you use to post your auction. There are 4 to choose from and each one is explained.

Q. What are the red prefixes on auction threads?
A. Here is a full description of the RED prefixes.



FAQs for Sellers

Q. How many auctions can I list in a week?
A. You can list up to 15 auctions per selling week. This is to allow all members a chance to be seen on page one of the forum and to help head off any issues if a seller goes missing and does not declare auction winners.

The selling week starts on Sunday (12:01AM) and ends on Saturday. This means that you could have auctions running in two selling weeks depending on when you started them and when they are ending. If this happens and you will have more than 15 live auctions up at one time, please check with the moderators first. They may request that your first auctions end before starting your new ones. However, if you have some auctions from a previous selling week and some from the current selling week, but there are less than 15, just number them accordingly based on week and there is no need to contact a moderator.

Q. How many of any one coupon can I auction off at one time?
A. At any one time you can have only a maximum of 100 of the same coupon listed. This is in one regular auction, one dutch auction or several auctions or auctions that are both up between 2 selling weeks.

Q. Can I auction off a potluck of coupons or inserts?
A. No. You must specify what the auction is for. You can list your auction and add a potluck to it as a bonus, but bids will be based on the listed item.

Q. What are the rules concerning auctioning codes and how to get them to bidders?
A. If you have a one-time use code, you can host an auction where you send the winner a PM with the code(s) only. An example of this would be Coke Codes. You may also opt not to PM the codes and mail them at either party's expense, but that has to be stated.

Most codes are one time use, and can be auctioned off as is. If you have some type of code that is sent to you in your name as part of a promotion to be redeemed by you specifically, you cannot auction off the codes. You must redeem the codes yourself and then auction off the item. Also occasionally, based on the terms of service for a specific promotion, the codes cannot be auctioned off. You must redeem the codes yourself and auction off the "item".

If you are not sure, please PM the auction moderators and they will find out for you.

Q. Can I pass paypal fees on to the buyer?
A. Yes, but this must be noted in the auction beforehand.

Q. How often can I bump my auction?
A. You can bump your auction 3 times in a 24 hour period. Your actual auction post does not count. This is not by calendar day, this is by every 24 hour period. Answering a question or adding to your auction is NOT bumping, but comments, promise of more coupons & thank you's ARE considered bumps.

Q. Can I end my auction early if someone makes me a great offer for my coupons via PM?
A. If a bid has been placed, NO. If there are no bids, YES. You can always cancel your auction for any reason as long as there haven't been any bids placed. You need tofirst post in the auction thread that you are cancelling the auction and then PM the moderators as well so they can remove it.

Q. How do I delcare the winner of my auction?

Q. My auction has ended, where is it?
A. If your auction has ended and did not sell, it is moved to the Trade Post Archive forum. If it ended and you declared your winner, it is moved to the Sold Auctions subforum.

Q. What do I do if my winner does not contact me after I PM them?
A. If you contacted your winner within 24 hours of the auction's end, they have 48 hours to respond from the time you contacted them. If this time has passed, please contact the auction moderators and they will advise you on the next course of action.

FAQs for Buyers/Bidders

Q. What are the different bid types and how do I bid on an auction?
A. Here is an explanation of each bid type and how to bid as well as information about bidding on Dutch & BIN auctions, combination bids, & padding bids.

Q. How are IP coupons handled in the Auction Forum?
A. If you are bidding on auctions, keep in mind that you are only able to post for trade or bid with 2 of the same IP coupon in total at any time. So, if you have already made a trade post for 2 identical IP's, you cannot then bid with 2 more. If you are bidding 2 IP's in one auction, you cannot bid 2 more in another. If you do not win the first auction, you can then bid with them.

Q. Can I bid the same coupons in more than one auction?
A. No, because you could win both auctions and would not be able to pay.

Q. I have coupons from the seller's wishlist, can I bid those instead?

A. You must follow the terms set forth by the seller. If they do not have coupons as an available bidding option, you cannot bid with those. You can, however, bid with a form they do accept and then PAD your bid with the coupons you have from their wishlist.


Q. What do I do if my seller does not contact me?
A. The seller has 24 hours from the end of the auction to declare and contact their winner(s). The moderators try to stay on top of this by PMing sellers if they have not declared yet and the time limit is approaching or has passed. If you haven't been contacted by the seller or a moderator, go ahead and contact the auction moderators and they will advise you on the next course of action.

Q. What do I do if the coupons I bid on were misrepresented (i.e. fine print not disclosed, expiration dates cut off, they were IPs but weren't auctioned as such, etc.)?
A. You deserve a refund. If you bid with paypal, cash, or stamps it is pretty straightforward. If your winning bid was coupons, they would need to be returned to you. If they then are expired, another replacement will have to be agreed upon. If the seller would like their coupons back as well, they would be responsible to cover the shipping on the return.



Other Miscellaneous FAQs

Q. How do I decide what kind of feedback to leave for an auction that had issues?


A. We hope that members will always leave honest feedback when there is an issue. If members just skip feedback when there is an issue, that does a large disservice to all other traders.

• If there were issues but it was an overall good result, you can leave a positive rating with details of the issue.
• You can leave a neutral rating with details if you feel the situation warrants it.
• A negative rating is almost always only used for trades not received and usually involves a bad trade report. If you feel your feedback should be negative, even though you received your end, you can leave it with the understanding that the other member can contest that feedback. We do not allow retaliatory feedback.

Q. If the winner does not pay and the seller has not shipped, can a bad trade report be filed since no coupons were lost?

A. Yes, a bad trade report can be filed if the seller can commit to holding on to the auction items until the report is resolved. If the seller wishes to trade or reauction they can leave feedback for the other party as a non-paying auction winner.

Q. If the wrong winner is declared, what happens?
A. The seller needs to correct this and declare the correct winner. If seller has another set of coupons, it is OK to take care of both members, but the correct winner does need to be declared and have the items sent to them.

Q. My seller/winner held their end until they received mine, what do I do?

A. If this information was not noted in the auction (please double check), then this should be considered and noted when leaving feedback. We also ask that you let the moderators know so that it can be noted and the member can be contacted.

Q. What is PPEF, paypal gift, RME, CC, Unused Stamps, EPOP, BTFE, Potluck?

A. PPEF is PayPal Existing Funds, which means the money must already be in your paypal account or be an automatic debit from your bank account. Paypal Gift is one payment option that sellers request because there are no fees incurred. When paying, you choose the "personal" transaction tab first, then select the gift option.

RME is Revolution Money Exchange, a less popular, but similar to paypal, money service.

CC is Concealed Cash.

Unused stamps are just that, brand new unused postage stamps. Yes, many like to specify so no one jumps in a loophole.

EPOP means Each member Pays their Own Postage to the other member

BTFE is Box Tops For Education

A Potluck is an envelope of assorted coupons, sometimes with restrictions. Examples of restricitons on potlucks are things like: a set number of coupons, no baby coupons, no pet coupons, no medicine coupons and with at least 2 weeks until expiration. We do not allow potluck only auctions. However, sellers can add them as an extra and bidders can add them as a "pad" to their bid.

Q. Who are the auction moderators and which one do I contact?

A. The auction moderators are meggers, rebate_queen, and melodyjg. If you have an issue or a question, please send a private message to all of them so that the moderator that is online first can help you.

** a huge thank you to our auction mods for their input in this FAQ & to rebate_queen for editing and retyping much of this information September 2011.

[bugface711]

Why can't I post an auction or bid on an auction?

One of the most often asked questions.

Usually, when a member is not able to post in auctions, one of 2 things is going on. Either you are not yet a trading member, or you are a trading member but you have not made enough trades yet.
Because some auctions are of high value, we have it set up so that you must have some trade experience before posting in the Auction forum.

To become a trading member: we just ask that you review the trading rules found HERE and then submit the request form found right in post #1 by letting us know I AGREE (to the trade rules). This will get you started in trading here at Hotcouponworld.

If you are a trading member: and are not able to post, this means you have not yet graduated from Trader in Training to Trader. You become a Trader once you have an itrader rating of 5 unique trades and 30 days as a TNT.
If you have met both of these requirements but still have the user rank of TNT, please send a PM to bugface711 to take care of this for you.

[bugface711]

What are the different types of auctions?

There are 4 types of auctions. When your auction is posted it will have a thread prefix denoting which type it is to let bidders and moderators know what type of auction you are hosting.

Auction: A regular auction is where the seller lists one item or one list of items up for bid. All coupon fine print must be disclosed.

Auction + BIN Option: The same as an auction, the only difference is that at any point in the auction, even after bids are placed, a member can post IN THE THREAD that they wish to Buy-It-Now (BIN).

We recommend a follow up PM to the seller after you post a BIN in the auction thread just to make sure they know you closed out the auction early.
**However, sellers should ALWAYS check the thread after getting a BIN PM to confirm that the PM came from the first member to post BIN. The win goes to the member who posts in the thread. Bids are not accepted via private message under any circumstances.

Dutch Auction: A dutch auction allows you to auction more than 1 set of the exact same item, with the same quantity in each set. For example, you have (30) $1/1 widget coupons. You do not think anyone can use 30 widget coupons, and you do not want to use up 6 of your 15 weekly auctions listing them in sets of 5. You can do a Dutch Auction that says you are bidding on (5) $1/1 widget coupons, with 6 sets available in the auction.

Dutch Auction + BIN Option: The same as a dutch auction, the only difference is that at any point in the auction, even after bids are placed, a member can post IN THE THREAD that they wish to Buy-It-Now (BIN) for any number of sets that are available.

[bugface711]

What are the different bid types?

A seller may list a number of acceptable bid types. Here is a breakdown:

Paypal (personal/gift or credit card funded), Concealed Cash, RME, Check, Money Order, and Postage Stamps (any denomination) are all considered "money" bids. But, each is a different bid type, and is treated as such. Each one may have its own minimum bid and increments, and you only "have" to meet the minimum bid of the type you are bidding with, or only beat the bid of the same type before you.

Gift Card Balances, Coupons, BTFE, & Coke Codes (as well as things like Register Rewards) are considered their own independent bid types.
Coupons are usually posted by the seller as a list to choose from or a link to their wishlist. Unless the bid increment specifies that you have to bid a higher face value in coupons than the bidder before you (which we do not recommend, as it hinders bids) then you find all that you can from that list, and make that your bid. If there is a specific increment for coupon value, then your bid must increase by that amount from the last coupon bid before you.

Unless one is specified, an increment will not apply to Gift Cards either, unless you are bidding with a gift card to the exact same store as a previous bidder. This is because the seller may choose a $2.00 Target gift card over a $3.00 CVS gift card if that is what best suits them. Sellers, please keep this in mind when setting up the terms of your auction.



How do I make my bid?

When you place your bid, you must make sure you are following the terms of the auction as set forth by the seller. This means paying attention to the minimum bid and the bid increments. In some cases, a seller does not have a minimum bid listed. Or, they may only have it listed for certain types of acceptable bids, in which case you only have to meet it for whichever types are specified; other types will have no minimum. If there is just a straight amount, i.e. $1.00, then all bid types that have a value must meet that amount.

Along the same lines, if an increment is only specifically listed for certain types of bids, then you only have to meet it for those types; all other types do not have an increment. If the increment is just set as a straight amount, i.e. $0.50, then it only applies to the "money" type of bids, unless the seller has specified a monetary value for one of the other bid types (such as stating BTFE = $0.10 each).

Of course, even if there is no increment to follow, if a bidder wants to entice a seller to pick their bid then they will put their best bid forward.


Example #1:
Bids accepted: Paypal or Stamps
Minimum bid: $1.00 Paypal or 3 Stamps
Bid increments: $0.50 Paypal or 1 Stamp

In this case, the first bidder might bid $1.00 paypal. If the next bidder wants to bid in paypal, their bid must increase by at least $0.50. However, since there is also a separate specific increment listed for stamps, the next bidder is also allowed to bid the minimum of 3 stamps if they want. If they do indeed bid 3 stamps, then the next bidder needs to follow the increment for whichever form of payment they are going to use. They only need to increase by the amount specified for that bid type, above the previous bid for that type. So if bidder #3 wants to bid paypal, they would have to bid $1.50 (outbidding the previous paypal bid of $1.00 by $0.50) OR 4 stamps (outbidding the previous stamp bid of 3 by 1 stamp).


Example #2:
Bids accepted: Paypal, CC, Stamps, or Coupons from my Wishlist
Minimum bid: $1.00 or $5.00 in coupon face value
Bid increments: $0.50

In this case, the first bidder has to bid a $1.00 value for all bid types except coupons, which is a $5.00 face value. This means that if stamps are bid, it must be 3 stamps to meet this minimum. Since there is just a straight $0.50 increment set, this will apply to the paypal, cc, and stamp bids only, and all bids of those type must increase by at least $0.50. So if the first bidder did bid 3 stamps, the next bid would have to be a value of $1.82 to be valid. For coupons, as long as the minimum is met, you may bid anything off the seller's wishlist.


Example #3:
Bids accepted: Paypal, CC, Stamps, or Coupons from my Wishlist
Minimum bid: $1.00 pp/cc or $5.00 in coupon face value
Bid increments: $0.50 pp/cc or $1.00 in coupon face value

In this case, the seller has not listed a minimum bid for stamps. Therefore, 1 stamp would be an acceptable bid. There is also not an increment listed for stamps. However, in this instance there is an increment listed for the coupons. The first coupon bid will need to meet the $5.00 minimum, and each consecutive coupon bid must increase by at least $1.00 in face value. The bidder is required to list values of their coupons, including any frees & it helps if the bidder gives the total value of their coupons at the bottom of their bid to aid other bidders in knowing what they have to beat.


Example #4:
Bids accepted: Paypal, Stamps, Gift Cards to Target or CVS, or Coupons from my Wishlist
Minimum bid: $1.00, 2 stamps or $5.00 in coupon face value
Bid increments: $0.50 or 1 stamp

In this case, the minimum bid for paypal or a gift card is $1.00. Stamps and coupons have their own minimum amount. The increments, however, are only set for stamps and paypal (the only other “money” bid). Gift card bids need only increase for gift cards to the same store as a previous bid. So, if the first bidder bids a $1.00 CVS gift card, the next bidder can bid a $1.00 Target gift card if they so choose. However, if they want to bid with a CVS gift card, the value must be at least $1.50.


How do I bid on a Dutch Auction?

When you place a bid on a dutch auction, you must specify your bid for each set that you are bidding on. The same rules for minimums and increments apply. If you do not specify how many sets you are bidding on, you may only claim one set. Your bid does not have to be the same for each set, but they must each meet the requirements of the auction. However, in a dutch auction it is harder to know how much you need to bid on a particular set in order to win it.


Example #1:
A dutch auction with 2 sets available.
Bids accepted: Paypal, CC, & Stamps
Minimum bid: $1.25
Bid increments: None

Bidder #1 bids:
3 stamps for 1 set ($1.32 value)
$1.50 CC for 1 set

Bidder #2 bids:
$1.35 paypal for 1 set
$1.60 paypal for 1 set

It could be looked at that Bidder #2 should win both sets because her bid of $1.35 outbid the previous bidder's 3 stamps ($1.32) and her bid of $1.60 outbid the previous bid of $1.50. But each set is not treated separately, so we only look at the highest 2 bids, which were $1.50 and $1.60. If all bids were in the same form of payment, these would be the 2 winning bids. However, in this example since the bids are different forms of payment and the seller can pick a bid of paypal over cc if they so choose, they are within their rights to pick both of Bidder #2's bids as the winning bids. Fun stuff!


Example #2:
A dutch auction with 4 sets available.
Bids accepted: Paypal
Minimum bid: $1.00
Bid increments: $0.50

Bidder #1 bids:
$1.00 each on 2 sets

Bidder #2 bids:
$1.00 on 1 set

Bidder #3 bids:
$1.00 on 1 set

Now that the minimum has been met for all of the sets, the next bidder must increase their bid by $0.50.

Bidder #4 bids:
$1.50 each on 2 sets

Bidder #4 is currently winning 2 of the 4 sets. The FIRST 2 bidders to bid $1.00 are the ones that would be currently winning the remaining 2 sets, so in this case that is Bidder #1. Bidder #4's bid knocked off the bids of Bidder #2 and Bidder #3.


How do I make a Buy It Now (BIN) bid?

If the seller is offering the auction item(s) at a BIN price, a bidder may post that they wish to BIN at any time before the auction's end, as long as the item(s) or sets are still available. You are required to post “BIN” in your bid, preferably with the type of payment you are using. If you do not state “BIN”, then another bidder could come in behind you and state it and they would be the rightful winner. The only people that can declare a BIN are the bidder themselves or a moderator if they catch it before another bidder BINs. The seller is not allowed to call a BIN winner if the bidder does not specifically state "BIN" in their bid. Also, we cannot allow BIN's to be more than the seller directs.


How do I make a bid with a combination of the different bid types?

If there is a list of acceptable bid types to choose from, and you have multiple types from that list to bid with, please do not assume that your combined bid meets the requirements just because it is a higher value overall than what the seller is asking for.
You DO still have to meet the minimum bid from at least one of the bid types before adding in the rest that you have to offer.


Example:
Bids accepted: Paypal, Stamps, Formula Checks, or Coupons from my Wishlist
Minimum bid: $1.00 paypal, 3 stamps, $2.00 in formula checks, or $4.00 in coupon face value

In this case, you cannot bid a combination of 1 stamp, a $1.00 formula check and $1.00 in coupons as none of these meet the minimum bid requirement for any type.
You CAN however bid $1 paypal, 1 stamp, a $1.00 formula check and $1.00 in coupons because one of the bid type minimums is met (paypal). OR you can bid $4.00 in coupons from their wishlist, 1 stamp and a $1.00 formula check because again, you met the minimum for the coupons.

The exception to this is if the seller says they will take any type of combination bid (usually happens when there is no minimum bid amount set) or lays out terms of what to meet for a minimum bid that is in combination, which may look like this:
Minimum bid:
$1.00 paypal or $0.50 in combination
2 stamps or 1 in combination


What is "Padding" a bid and how do I do it?

Padding a bid is kind of like those extra coupons you might put in a trade envelope. It doesn't change anything that you've agreed upon, but it helps to "sweeten the pot." It is a little something extra to make your bid more enticing. Padding a bid is always allowed, but your actual bid still must meet the sellers required bidding instructions.

Example:
Bids accepted: Paypal, CC, Gift Cards to Walgreens
Minimum bid: $1.00
Bid increments: $0.50

Bid #1:
$1.00 Paypal

Bid #2:
$1.50 Paypal

The third bidder wants to pad their bid with a $1.00 Register Reward from Walgreens. This is not on the list of acceptable bids, but since it is obvious the seller has a Walgreens, padding with the RR should make the bid more enticing for the seller. All of the other terms must be met prior to the padding, however. So the third bidder needs to at least bid a $2.00 value before padding. So their bid might look like this:

Bid #3:
$2.00 CC
Padding with: $1.00 RR from Walgreens expires xx/xx/xx
You could also pad with a FREE coupon, a potluck, or check the seller's wishlist. Please be clear about what you're using to pad the bid in your post.

The next bid would only need to outbid their “acceptable” bid by the $0.50 increment.
Bid #4:
$2.50 Paypal

[bugface711]

How do I declare the winner of my auction?

The winner of your auction must be declared by name in the auction thread (for the record) & contacted within 24 hours of the auction's end time. This includes all BIN bids, so be sure to keep an eye on your auctions with BIN options. Before declaring your winner, please make sure you are picking a winner with a valid bid. Sometimes the last bid in your auction is NOT the winning bid. There may be an earlier bid that is of higher value to you.


When declaring your winner, please make sure to do a few things.

1. Declare your winner based on the end time you chose. If your auction ended at 10pm EST then a bid at 10:00:01 pm is invalid as it was posted after the auction ended.
2. Your winner must have a valid bid based on the terms you set forth in the auction. Sellers do have the right to choose the bid that best suits their needs (even if it's a lower value), but the bid must be valid in order to be chosen. That means that it met the minimum and increments you set up and came in before the auction ended. If you are not sure if a bid is valid, the auction moderators are glad to help.
3. Post the winner's name in the thread for the record within 24 hours of the end time.
4. Contact your winner within 24 hours of the end time.
5. If you do not hear back from your winner within 48 hours of the time you contacted them, please let all of the auction moderators know and they will advise you on how to proceed.

How do I declare the winner(s) of a Dutch Auction?

The same rules above still apply. In a dutch auction, usually the highest bids will be the winning bids, as long as they followed the terms of the auction. However, if there are different bid types accepted, and a mixture of bids containing them, the seller still does have the option of choosing what best suits their needs.

[bugface711]

What are the RED prefixes on auction threads?

Helping Hand auctions have a prefix that can be added by the moderators for applicable auctions. If you have an auction that you want to host as a fundraiser, please contact the auction mods first. We have several requirements before this prefix can been added. When you see this prefix, it means a mod has reviewed the auction, who it is for and the details inside.

Ends Today ~ along with what type of auction it is, also in red.
At some point during the last day of an auction, the moderators will change the original blue thread prefix to this one. Ending auctions will really stand out with this addition, giving sellers that last boost to help get it sold!

Also, with this bold prefix, bidders can quickly scroll through 10, 20, or even 100 auctions to see which ones are about to end. Keep in mind that you do still need to check ending times and time zones.
(please note that in some instances mods may not be online and able to change the prefix, but as always, will do their best)

SOLD ~ This auction has been sold, and the winner declared. To help keep the forum filled with active auctions only, these auctions will be moved to the Sold Auctions forum as soon as the mods are able.

SOLD ~ (need winner declared) This will help sellers quickly find their recently ended auctions and let bidders know that the mods are aware a winner has not yet been declared.

[bugface711]

bumping this up. Rebate_queen just edited this whole thing to make it more up to date based on new issues that have come up, the use of the forms, recent questions and more.